Cloud business inContact soars after announcing $940M sale

Shares of inContact, a cloud contact center software firm, rose more than 53 percent Wednesday after announcing it was being acquired by Nice Systems, an Israel-based software company.

InContact said the sale would be worth $940 million, or $14 a share, in cash, representing a 55 percent premium from its closing price on Tuesday.

"We strongly believe that this transaction best positions the Company to execute on our vision of helping our customers deliver exceptional customer experiences, while rewarding our existing stockholders for the work we have achieved to date," inContact CEO Paul Jarman said in a statement.